Industries

For the Record - Central Virginia, August 2012

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Covenant Woods, a Hanover County retirement community, will undertake a $78 million expansion adding 84 apartments and 22 cottages, doubling the facility’s residential space. The work will take about two years. (Richmond Times-Dispatch)

Deerfield Square Associates II, LLC, an Atlanta-based development company, bought the unfinished Landmark Hotel in Charlottesville for $6.25 million at a bankruptcy court auction. Development will wait while the company completes a current project in Charleston, S.C. (The Daily Progress)

Elevation, a Richmond advertising agency, won a silver ADDY award in the Locally Broadcast TV category, for a Virginia Green spot. It was Elevation’s first national ADDY award. (News release)

Liberty University bought the Wingate by Wyndham Hotel for $9.2 million in a foreclosure auction. The university has not announced how it will use the 131-room property. (News & Advance)

MeadWestvaco, a Richmond-based packaging solutions company, acquired AARDEX Group SA, of Switzerland, a developer of technology for tracking how and when patients take their medications. (Richmond Times-Dispatch)

Performance Food Group Inc., a Goochland County restaurant distributor, bought Institution Food House Inc., a Hickory, N.C., distributor with about $600 million in annual sales. (Richmond Times-Dispatch)

Sabra Dipping Co., a major manufacturer of hummus, will expand its Chesterfield County plant and add a research and development facility in a $28 million investment. The project is expected to add 90 jobs in the next few years. (News release)

Snagajob, a Henrico County job location service, cut at least 17 jobs in its direct sales staff for small franchise businesses. The company still services that market but decided to reduce resources directed to it. (Richmond Times-Dispatch)

Transurban, an operator of toll highways headquartered in Australia, wrote down $138.1 million of its $548 million investment in the Pocahontas Parkway in Henrico County. Economic conditions stalled development in the area served by the project, leading to less traffic than forecast. (Richmond Times-Dispatch)

Diffusion Pharmaceuticals LLC, a Charlottesville health-care technology company, received the award for best medical product or device at the Virginia Healthcare Innovators conference. Diffusion developed the drug candidate trans sodium crocetinate for the treatment of solid tumors by altering diffusion of oxygen in the tissue. (News release)


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